HSBC eyes sale of its French retail business
The effort is part of a push by interim Chief Executive Officer Noel Quinn to cut costs at Europe’s largest lender by assets. ... Read full article
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UBS face $6 billion fine as tax-fraud trial nears end
The Swiss banking giant has been accused of helping wealthy French clients hide assets from tax authorities. ... Read full article
BNP Paribas to sell 20 million more shares of First Hawaiian
The French company's stake in First Hawaiian will fall to about a third after the secondary offer is completed, and First Hawaiian will buy some of the shares. ... Read full article
The JPMorgan of Europe? French giant BNP Paribas is on a roll
Since taking over as CEO of BNP Paribas in 2011, Jean-Laurent Bonnafé's watchword has been "discipline." And while there have been aberrations, this trait has enabled the bank to steadily take market share from its European competitors and ... Read full article
BNP Paribas to relinquish majority ownership of Hawaiian bank
A planned stock offering by the French banking giant would lower its stake in First Hawaiian to 49.9%. ... Read full article
U.S. announces takedown of $530 million cyberfraud network
The U.S. charged 36 people in a takedown of an international cybercrime ring that prosecutors say used the slogan “In Fraud We Trust” and stole $530 million with the help of pilfered identities and malware. ... Read full article
BNP Paribas to acquire French digital bank startup
The neobank Compte-Nickel has opened more than 540,000 accounts since its launch three years ago. ... Read full article
SocGen taps Amazon, Microsoft for cloud as banks target costs
Societe Generale is working with Microsoft and Amazon.com to become one of the first large European banks to adopt cloud computing for the bulk of its operations. ... Read full article